In large saucepan melt the butter over low heat. Add the marshmallows and stir until completely melted. Remove from the heat.
Add the cereal. Stir until well coated.
Using a buttered spatula or wax paper, evenly press the mixture into 9-inch x 13-inch x 2-inch pan coated with cooking spray. Cool. Using a 2-inch heart shaped cookie cutter, cut out hearts.
Melt the candy melts using a double boiler. Remove from the heat. Using a small offset spatula, coat half of each heart with melted candy and sprinkle with sprinkles. Place onto a wire rack until the candy coating hardens.
Gently skewer each heart with a straw or lollipop stick and serve.